• -The EU parliamentary government, which has some plans for many proof-of-work cryptocurrencies such as Bitcoin, has started to discuss its views on the subject in parliament.

It has been stated that the provisions requiring these currencies to comply with the environmentally friendly proof-of-risk consensus mechanism and asking them to pass this mechanism will be submitted in the parliamentary vote. Legal plans continue to be made to manage virtual currencies. According to the latest situation, the European Union has started to share provisions for the management of these virtual currencies and to limit the use of cryptocurrencies.

EU Parliamentary Decisions Explained With Intensive Review

The mechanism by which currencies such as proof-of-work crypto and ether depend is known as consensus. The processing process of the information of these situations is being investigated by the EU deputies with intense examinations. The parliament, whose energy concerns continue, is conducting a focused study on this issue.

  • -According to the draft created in connection with MiCA, strong provisions have been decided to ban crypto services prepared by adhering to consensus mechanisms in 2025. However, this provision is among the ones to be abandoned as it could cause the industry to backfire. Therefore, it was stated that the decision was not made clear.
  • -Adhering to the newly prepared draft and according to the reviews by CoinDesk, a similar provision has emerged again. In particular, according to the situation specified in this provision, it was shared that the consensus mechanisms must comply with environmental sustainability standards before crypto assets are offered and accepted for trade. If there is a small-scale operation, according to the provisions it does not have to meet the standards in terms of sustainability.
  • -It is outlined in different situations in the shared document. Some issues were also addressed before the enactment of these laws. It has been stated that energy-intensive crypto assets, which are used especially in the EU, must also comply with some conditions. A plan is created which must be followed gradually. It will be mandatory to create a distribution plan to ensure compliance with these crypto assets. In addition, the continuation of the established plans will be among the obligations.

According to the enacted laws, it turns out that it will be difficult for crypto money assets to continue their existence together with the consensus mechanism. For this reason, it is wondered about the changes in the laws and when they will be valid.



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